Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty Notes for 11th July 2008

27 sec read


 

Index : CNX  Nifty
Open : 4166
High : 4215.5
Low : 4014.45
Close : 4049
 
 

Avoid trading near Fibo level – 4214 and day high is 4215.5

If you are a clever trader, what you should do is, you do not enter either long or short at 38.2% retracement,(Though all parameters allows you to do ) but instead wait for the perfect reversal happening at 38.2% retracemnt.

And the sell signal comes after the announcement of BAD IIP no’s.

Also if u notice the 200Min MA i.e 4135 act as a intraday support level.

Which was tested first and then breaks with a hard black candle. If 200 min MA
breaks then huge carnage… ie Nifty moved from 4135 to 4015.

You gained = 4135-4015 = 120pts

Total Intraday profit = 120×50= Rs 6000/Lot

 
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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